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LEASES (Tables) | 9 Months Ended
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Dec. 31, 2022
LEASES |
Schedule of lease right-of-use assets and lease liabilities | The table below presents the ROU assets and lease liabilities recorded in the consolidated balance sheets at the dates indicated (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, | ​ | March 31, |  | Classification in the
Leases |  | 2022 |  | 2022 |  | consolidated balance sheets
Finance lease ROU assets | ​ | $ | 1,298 |  | $ | 1,355 |  | Financing lease ROU assets
Finance lease liability | ​ | $ | 2,243 |  | $ | 2,283 |  | Finance lease liability
Finance lease remaining lease term | ​ |  | 16.93 | years |  | 17.68 | years | ​
Finance lease discount rate | ​ |  | 7.16 | % |  | 7.16 | % |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating lease ROU assets | ​ | $ | 7,008 |  | $ | 7,907 |  | Prepaid expenses and other assets
Operating lease liabilities | ​ | $ | 7,379 |  | $ | 8,306 |  | Accrued expenses and other liabilities
Operating lease weighted-average remaining lease term | ​ |  | 6.36 | years |  | 7.02 | years | ​
Operating lease weighted-average discount rate | ​ |  | 1.79 | % |  | 1.81 | % |
​
Schedule of lease costs for finance and operating leases | ​ The table below presents certain information related to the lease costs for operating leases, which are recorded in occupancy and depreciation in the accompanying consolidated statements of income at the dates indicated (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended | ​ | Three months ended | ​
Lease Costs |  | December 31, 2022 |  | December 31, 2021 | ​
Finance lease amortization of right-of-use asset | ​ | $ | 20 | ​ | $ | 20 | ​
Finance lease interest on lease liability | ​ |  | 41 | ​ |  | 41 | ​
Operating lease costs | ​ |  | 283 | ​ |  | 316 | ​
Variable lease costs | ​ |  | 52 | ​ |  | 53 | ​
Total lease cost (1) | ​ | $ | 396 | ​ | $ | 430 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nine months ended | ​ | Nine months ended | ​
Lease Costs |  | December 31, 2022 |  | December 31, 2021 | ​
Finance lease amortization of right-of-use asset | ​ | $ | 58 | ​ | $ | 58 | ​
Finance lease interest on lease liability | ​ |  | 122 | ​ |  | 124 | ​
Operating lease costs | ​ |  | 849 | ​ |  | 946 | ​
Variable lease costs | ​ |  | 157 | ​ |  | 158 | ​
Total lease cost (1) | ​ | $ | 1,186 | ​ | $ | 1,286 | ​
​
(1) | Income related to sub-lease activity is not significant and not presented herein.
​
Schedule of maturities of operating lease liabilities | The following table reconciles the undiscounted cash flows for the periods presented related to the Company’s lease liabilities as of December 31, 2022 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Year Ending March 31: |  | Operating |  | Finance
​ | ​ | Leases | ​ | Lease
Remaining of 2023 | ​ | $ | 340 | ​ | $ | 54
2024 | ​ |  | 1,370 | ​ |  | 219
2025 | ​ |  | 1,375 | ​ |  | 222
2026 | ​ |  | 1,125 | ​ |  | 226
2027 | ​ |  | 1,116 | ​ |  | 230
Thereafter | ​ |  | 2,530 | ​ |  | 2,944
Total minimum lease payments | ​ |  | 7,856 | ​ |  | 3,895
Less: amount of lease payment representing interest | ​ |  | (477) | ​ |  | (1,652)
Lease liabilities | ​ | $ | 7,379 | ​ | $ | 2,243
Schedule of maturities of finance lease liabilities | The following table reconciles the undiscounted cash flows for the periods presented related to the Company’s lease liabilities as of December 31, 2022 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Year Ending March 31: |  | Operating |  | Finance
​ | ​ | Leases | ​ | Lease
Remaining of 2023 | ​ | $ | 340 | ​ | $ | 54
2024 | ​ |  | 1,370 | ​ |  | 219
2025 | ​ |  | 1,375 | ​ |  | 222
2026 | ​ |  | 1,125 | ​ |  | 226
2027 | ​ |  | 1,116 | ​ |  | 230
Thereafter | ​ |  | 2,530 | ​ |  | 2,944
Total minimum lease payments | ​ |  | 7,856 | ​ |  | 3,895
Less: amount of lease payment representing interest | ​ |  | (477) | ​ |  | (1,652)
Lease liabilities | ​ | $ | 7,379 | ​ | $ | 2,243

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